Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $72,500 full-service restaurants loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sturbridge, Massachusetts was able to borrow $72,500 from Southbridge Savings Bank. The SBA made the loan possible by guaranteeing $54,375 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
STURBRIDGE, MA 01566

SBA Loan Lender

SOUTHBRIDGE SAVINGS BANK
7-11 ELM ST
SOUTHBRIDGE, MA 01550

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/16/2004

Loan Approval Gross Amount

$72,500

Loan Approval from the SBA

Of the total $72,500 loan amount, the SBA guaranteed $54,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Southbridge Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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Banks in Southbridge, Massachusetts

Massachusetts SBA Bank Lenders